Sears Holdings: 2 Recent Retail Earnings Reports Raise More Red Flags
Sears Holdings (NASDAQ: SHLD) got off to a terrible start in 2017. Comparable-store sales plunged by 11.9% in the first quarter, and the company posted an adjusted loss of $222 million before interest, taxes, depreciation, and amortization. The combined impact of declining sales and margin pressure more than offset the savings from Sears Holdings' cost-cutting plan.
Surprisingly, Sears Holdings' stock price has increased in the three months since it released its first-quarter earnings report -- even as shares of other retailers like J.C. Penney (NYSE: JCP) have continued to plunge.
Source: Fool.com